Public Sector Pension Investment Board Makes New Investment in Ingevity Corp (NYSE:NGVT)

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Public Sector Pension Investment Board purchased a new position in shares of Ingevity Corp (NYSE:NGVT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,100 shares of the company’s stock, valued at approximately $3,679,000. Public Sector Pension Investment Board owned 0.10% of Ingevity at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Ingevity by 7.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,090,216 shares of the company’s stock worth $95,264,000 after acquiring an additional 72,946 shares in the last quarter. Wesbanco Bank Inc. bought a new stake in shares of Ingevity in the fourth quarter worth $203,000. Americana Partners LLC bought a new stake in shares of Ingevity in the fourth quarter worth $40,000. Oxford Asset Management LLP bought a new stake in shares of Ingevity in the fourth quarter worth $1,213,000. Finally, Amalgamated Bank grew its stake in shares of Ingevity by 4.5% in the fourth quarter. Amalgamated Bank now owns 8,167 shares of the company’s stock worth $714,000 after purchasing an additional 352 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

In other Ingevity news, CEO D Michael Wilson purchased 7,500 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was purchased at an average cost of $65.12 per share, with a total value of $488,400.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Richard B. Kelson purchased 1,028 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were acquired at an average cost of $48.21 per share, with a total value of $49,559.88. In the last quarter, insiders have bought 19,818 shares of company stock valued at $1,111,255. 0.46% of the stock is currently owned by corporate insiders.

NGVT has been the topic of several analyst reports. Wells Fargo & Co reduced their price objective on shares of Ingevity from $100.00 to $83.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Stifel Nicolaus dropped their price target on shares of Ingevity from $67.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday. BMO Capital Markets reiterated an “outperform” rating and issued a $111.00 price target on shares of Ingevity in a research report on Wednesday, February 5th. TheStreet lowered shares of Ingevity from a “b-” rating to a “c+” rating in a research report on Friday, February 21st. Finally, SunTrust Banks dropped their price target on shares of Ingevity from to in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Ingevity currently has an average rating of “Buy” and a consensus target price of $94.00.

NYSE:NGVT traded up $3.27 on Thursday, reaching $36.00. 710,512 shares of the company’s stock were exchanged, compared to its average volume of 821,788. The company has a quick ratio of 1.16, a current ratio of 2.15 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 0.62 and a beta of 2.34. The business has a fifty day moving average of $49.39 and a 200-day moving average of $76.14. Ingevity Corp has a 52-week low of $24.92 and a 52-week high of $116.88.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Monday, February 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.07. The company had revenue of $303.40 million for the quarter, compared to the consensus estimate of $305.09 million. Ingevity had a return on equity of 48.02% and a net margin of 14.21%. Ingevity’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 EPS. As a group, equities analysts anticipate that Ingevity Corp will post 5.05 earnings per share for the current year.

Ingevity Profile

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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